Edmond de Rothschild

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This site provides extensive information about the ranges of Edmond de Rothschild Group funds. In particular, it provides simplified access to key fund-related data (performance, net asset values, features) and their commercial or legal documents.

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EdR Credit Very Short Term Money market

Money market
Change in NAV (14/11/2018)
102.65 USD
Nathalie  COFFRE (Amundi Asset Management)–FR0013250578–
Nathalie COFFRE (Amundi Asset Management)
The identity of the managers presented in this document may change during the life of the product.
Risk and reward profile (1)
1234567
102.65 USD
Change in NAV (14/11/2018)
1
1234567
Risk and reward profile
Recommended holding period
Change in NAV (14/11/2018)
102.65 USD
Risk and reward profile
1234567
Recommended holding period
Nathalie COFFRE (Amundi Asset Management)  
 
The identity of the managers presented in this document may change during the life of the product.
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Investment objective

The investment objective is, by investing in interest rate and money markets, to outperform the capitalised EONIA index over the recommended investment period, less any management fees.In the event of very low or even negative interest rates on the money market, the yield generated by the UCITS would not be sufficient to cover the costs of management and the UCITS' net asset value would fall structurally.

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Commentary 31/10/2018

The ECB's key interest rates remained unchanged in October with the refinancing rate at 0%, the deposit facility rate at -0.40%, and the margin rate at 0.25%. The 3-month Euribor and Eonia closed the month unchanged at -0.32% and -0.36%, respectively. Budget negotiations in Italy were once again the main source of volatility in October. The European Commission rejected the Italian government's draft budget on the grounds that it did not meet the Stability & Growth Pact's recommendations. Following this rejection, Italian bond spreads reached levels not seen since May this year. Sovereign bond yields stabilised at the month end, thanks to S&P maintaining its BBB rating on Italy's sovereign debt. The news-flow on Italy led to a sharp hike in risk aversion, resulting in lower German bund yields and rate swaps, and a marked widening in credit spreads. Given this climate, the fund posted a net monthly performance of -0.33% y-o-y. We have prioritised investment on one-year fixed income securities, as well as short-term fixed-rate bonds (from six months to a year). Widening credit spreads and weak term premiums on various issuers confirm our choice of a cautious strategy in terms of average life.

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Change in NAV

Chart – Base 100 (14/11/2018)
Avertissement
You are about to download the historical data for a portfolio. Please note that past performance is not an indication of future performance and it may vary over time. They may be affected, for example, by changes in exchange rates

Performance BH-USD Cumulative Annualised

2.17 %

1.72 %

Since inception

2.65 %

2.09 %

2.00 %

1.58 %

Since 01/01/2018 1 year* 3 years* 5 years* Since inception
Cumulative

Share class (BH-USD)

Benchmark

2.65 %

2.09 %

Annualised

Share class (BH-USD)

Benchmark

2.17 %

1.72 %

2.00 %

1.58 %

*Rolling periods

Annual performance



Statistics

VolatilityTracking ErrorCorrelation coefficientInformation ratioSharpe ratio
Share class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmark
1 Year*0.16 %0.04 %0.16 %0.13 %2.71 %-0.09 %
3 Year *
Max. drawdownAlphaBeta
Share class BH-USDBenchmarkShare class BH-USDBenchmarkShare class BH-USDBenchmark
1 Year*-0.06 %0.02 %0.50 %
3 Year *
Max. monthly gain Since inception
Max. monthly loss Since inception
Share class BH-USD
Benchmark
1 Year* 3 Year * 1 Year* 3 Year *
Volatility 0.16 % 0.04 %
Tracking Error 0.16 %
Sharpe ratio -0.09 %
Alpha 0.02 %
Correlation coefficient 0.13 %
Information ratio 2.71 %
Max. drawdown -0.06 %
Beta 0.50 %

Fund information

Inception Date (Fund)
20/08/1987
Inception Date (Part)
21/07/2017
Legal form
Mutual Fund
Benchmark
Fed Funds capitalise
Currency (fund)
EUR
Currency (share class)
USD
Distribution Policy
Accumulation
Valuation frequency
Daily
Minimum initial investment
1 Share
ISIN Code
FR0013250578
AuM (fund)
1,032 M (EUR)
Regulatory authority
AMF
EU Regulation
UCITS
Management company
Edmond de Rothschild Asset Management (France)
Delegated Management Company
Amundi Asset Management
Incorporation
France
Maximum management fee
0,250 %
Current management fee
0.250 %
Subscription and redemption conditions
Daily before 12.30 am C.E.T. on day's net asset value
Subscription fee
0.40 % max

Fund documentation

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(1) The rating grades the funds on a scale from 1 to 7. This rating system is based on the average fluctuations of the net asset value over the past five years. It corresponds to the variation range of the portfolio upwards and downwards. If the net asset value is less than 5 years old, the rating is determined by other regulatory calculation methods. Historical data such as those used to calculate the rating may not be a reliable indication of the future risk profile. The current category is neither a guarantee nor an objective. Category 1 does not signify a risk-free investment.

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